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COAI seeks refund of unutilised ITC, levy cuts amid Covid stress
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SME Times News Bureau | 29 Jun, 2020
Telecom industry body COAI has again written to the Finance Minister
seeking financial relief with refund of unutillised input tax credit
(ITC) and rationalisation of regulatory levies as the industry goes
through a tough time amid the Covid-19 pandemic.
This is the
second time the Cellular Operators Association of India (COAI) has
written to the minister seeking relief measures for the industry in the
past three months. In March it had written to Finance Minister Nirmala
Sitharaman seeking the relaxations.
It has requested immediate
refund of the unutilised input tax credit. COAI also said that if not
the refund, the government should provide soft loan at MCLR rate to the
companies, using the GST input credit as collateral.
Seeking
reduction in regulatory levies, it said: "The effective rate of the SUC
should be reduced by 3 per cent for all the TSPs."
Licence fee
contribution should be immediately brought down from 8 per cent to 3 per
cent, said the letter signed by COAI Director General, Rajan Mathews.
The
industry body has also sought exemption of the levy of GST on license
fees, spectrum usage charges and payment of spectrum acquired in
auctions.
"Exempt service tax on amount of LF/SUC payable by Telecom Operators in compliance with Supreme Court order," it added.
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